Advance Metals (ASX:AVM) found a new structure containing visible high-grade gold to the east of the historic Happy Valley workings within the Myrtleford project in Victoria following recent step-out drilling, according to a Wednesday filing with the Australian bourse.
Initial assay results for the upper portion of the drill hole returned 0.6 meters at nearly 67 grams per tonne grade of gold from 51 meters, the filing said.
The company plans to conduct further drilling test continuity and orientation of the mineralized zone, per the filing.